Solar Panel Cost Guide in Silverthorne, CO (Mar 2023)
- Silverthorne Solar Installation Cost: $9,923
- 25-Year Savings: $17,488
- Payback Period: 9.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Silverthorne
Find out what the average cost of a solar system is in Silverthorne.
The average cost of a solar system in Silverthorne is 2.69 per watt. Because a 5.3-kW system is needed to cover the energy usage of a typical home in Silverthorne, the average price of going solar will be about $9,923 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Silverthorne homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $20,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Silverthorne for a quote for your home.
Solar savings over time in Silverthorne
| Year | Return on Investment |
|---|---|
| 1 years | $-8,827 |
| 3 years | $-6,634 |
| 5 years | $-4,441 |
| 7 years | $-2,248 |
| 9 years | $-55 |
| 11 years | $2,138 |
| 13 years | $4,330 |
| 15 years | $6,523 |
| 17 years | $8,716 |
| 19 years | $10,909 |
| 21 years | $13,102 |
| 23 years | $15,295 |
| 25 years | $17,488 |
Top Solar Installers in Silverthorne
Installing solar panels by yourself can be a stressful project, which is why using a solar installation company is a good option for many homeowners. In addition, if you'd like to maximize your investment in solar energy, using a solar installer can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Silverthorne:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Silverthorne
Factors that Affect Solar Panel Costs in Silverthorne
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Silverthorne: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Silverthorne, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,690 for each additional kilowatt you need. The type of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Even though solar loans make going solar more accessible for Silverthorne homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Silverthorne, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.80 | $11,750 | $19,454 | 9.4 years |
| 8 kW | $2.74 | $15,365 | $26,240 | 9.2 years |
| 10 kW | $2.69 | $18,830 | $33,176 | 9.1 years |
| 12 kW | $2.64 | $22,144 | $40,263 | 8.9 years |
| 14 kW | $2.58 | $25,308 | $47,501 | 8.7 years |
| 16 kW | $2.53 | $28,320 | $54,890 | 8.5 years |
| 18 kW | $2.47 | $31,182 | $62,429 | 8.3 years |
| 20 kW | $2.42 | $33,894 | $70,118 | 8.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Silverthorne, CO Solar Cost FAQs
How much does it cost to install solar panels in Silverthorne?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Silverthorne?
A solar panel system isn't free in Silverthorne, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.